Kazakhstan's Energy Minister Yerlan Akkenzhenov stated that by 2026, the country's production of oil and natural gas condensate is expected to be between 96 million to 98 million tons, which is below the previously set target of 100.5 million tons.
According to market calculations, this production range is equivalent to a daily supply level of approximately 2 million barrels at its peak.
The main reasons for the production cut include attacks on facilities of the Caspian Pipeline Consortium and production disruptions at the country's largest oil field, the Tengiz field.
The Energy Minister stated that production at the Tengiz field has resumed, and it is currently producing around 120,000 tons per day.
Kazakhstan usually accounts for about 2% of global oil supply, but in recent months, production has declined.
